bank hsbc

ants83 · 7 Jan 2007 at 19:56

i have a credit card and current account with hsbc. I would like to transfer this to first direct as Ive heard good things. Would this take long to setup up or would it not be worth my while as first direct are a part of hsbc anyway?

Jimbeam3678 · 7 Jan 2007 at 20:25

first direct will do it all for you I.E DD standing orders etc, all you'll have to do is tell your work to pay your wages into your new account. Well thats the theroy , but as people know I'm not the banks biggest fans!!

monkeyspank · 7 Jan 2007 at 20:41

What good things have you heard? Just asking in case it's worth me doing it too

ants83 · 7 Jan 2007 at 20:50

monkeyspank said:
What good things have you heard? Just asking in case it's worth me doing it too

good Customer service and interest rates. Ive got a credit card and an isa would they transfer all that for me too?

carvegio · 7 Jan 2007 at 21:21

they are going to start charging a monthly fee unless you pay your salary in per month, over 1500 i think, or have another product with them. otherwise its like a tenner or something a month.

Check it out on their site first

Scuzi · 7 Jan 2007 at 21:23

carvegio said:
they are going to start charging a monthly fee unless you pay your salary in per month, over 1500 i think, or have another product with them. otherwise its like a tenner or something a month.

Check it out on their site first

Yeah that's right. If you don't have at least £1500 deposited in your account each month, they will charge you £10 a month for having the account. The easy way around this is to open a second account, i.e. a saving account and stick a fiver in it. If you have a second account, they don't charge the fee

FrostedNipple · 7 Jan 2007 at 21:37

Scuzi said:
Yeah that's right. If you don't have at least £1500 deposited in your account each month, they will charge you £10 a month for having the account. The easy way around this is to open a second account, i.e. a saving account and stick a fiver in it. If you have a second account, they don't charge the fee

LOL lovely lovely loop holes

Pez · 7 Jan 2007 at 21:45

I'll tell you what. Our Dept manager is actually the chap who setup FD, and belive me, they are absolutley brilliant.

I dont work for them, but their fees and services are that clear and fair, I'm actually considering moving to them.. and bear in mind I work for a competitor bank that has all the perks that would come with such a deal - Free sameday payments, no charges for going overdrawn, Interest free O/D, low loan rates.

Superb

Scuzi · 7 Jan 2007 at 21:59

Pez said:
I'll tell you what. Our Dept manager is actually the chap who setup FD, and belive me, they are absolutley brilliant.

I dont work for them, but their fees and services are that clear and fair, I'm actually considering moving to them.. and bear in mind I work for a competitor bank that has all the perks that would come with such a deal - Free sameday payments, no charges for going overdrawn, Interest free O/D, low loan rates.

Superb

I moved to First Direct about 3 years ago and it was the best move I ever made. I never hold on the phone, I always speak to someone in this country, not someone in bloody Bangladesh, and the staff will always bend over backwards to help me out.

I can't think of a bank to rival it and even if I had to pay the £10 a month I would but luckily I have no need to

Pez · 7 Jan 2007 at 22:21

Scuzi said:
I moved to First Direct about 3 years ago and it was the best move I ever made. I never hold on the phone, I always speak to someone in this country, not someone in bloody Bangladesh, and the staff will always bend over backwards to help me out.

I can't think of a bank to rival it and even if I had to pay the £10 a month I would but luckily I have no need to

I've actually just finished an online application now

ants83 · 7 Jan 2007 at 22:26

is it possible to have 2 current accounts?

Pez · 7 Jan 2007 at 22:28

ants83 said:
is it possible to have 2 current accounts?

You can have as many as you like, As long as one bank doesnt suspect that you are 'crossfiring'.

Many accounts offer a feature that allows you to draw upon cheques that are not yet clear. Recently, more and more people have started to write cheques from one account (that is already overdrawn) to another, in order to be able to draw funds. Now of course neither account has the money, so this pushes them further into debt.

If a bank finds you doing this, they will close your account.

Kreeeee · 7 Jan 2007 at 22:29

If First Direct is a sub division of HSBC are there any benefits at all to switching if I have an HSBC account?

ants83 · 7 Jan 2007 at 22:49

Pez said:
You can have as many as you like, As long as one bank doesnt suspect that you are 'crossfiring'.

Many accounts offer a feature that allows you to draw upon cheques that are not yet clear. Recently, more and more people have started to write cheques from one account (that is already overdrawn) to another, in order to be able to draw funds. Now of course neither account has the money, so this pushes them further into debt.

If a bank finds you doing this, they will close your account.

id just like the second account as a back up really thats all.

Scuzi · 7 Jan 2007 at 22:51

Kreeeee said:
If First Direct is a sub division of HSBC are there any benefits at all to switching if I have an HSBC account?

I'm not sure of the official differences but having spoken to quite a few customers of both HSBC and First Direct, First Direct would appear to be the more premium service in terms of customer service.

Jimbeam3678 · 7 Jan 2007 at 23:38

Pez said:
I dont work for them, but their fees and services are that clear and fair, I'm actually considering moving to them.. and bear in mind I work for a competitor bank that has all the perks that would come with such a deal - Free sameday payments, no charges for going overdrawn, Interest free O/D, low loan rates..

OFF topic makes sense now why you where so defensive of banks in the beat banks thread